Scotiabank Issues Pessimistic Forecast for Canadian Pacific Kansas City (TSE:CP) Stock Price

Canadian Pacific Kansas City (TSE:CP) (NYSE:CP) had its target price reduced by Scotiabank from C$118.00 to C$117.00 in a research report released on Thursday,BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

A number of other research analysts have also weighed in on the company. UBS Group upped their price objective on Canadian Pacific Kansas City from C$113.00 to C$116.00 in a report on Thursday. Raymond James reduced their price objective on shares of Canadian Pacific Kansas City from C$130.00 to C$115.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Royal Bank of Canada dropped their target price on shares of Canadian Pacific Kansas City from C$122.00 to C$121.00 and set an “outperform” rating for the company in a report on Thursday. Sanford C. Bernstein lowered their price target on Canadian Pacific Kansas City from C$123.00 to C$122.00 in a report on Friday, February 21st. Finally, CIBC dropped their price objective on Canadian Pacific Kansas City from C$124.00 to C$119.00 and set an “outperform” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$119.62.

Canadian Pacific Kansas City Stock Up 2.9 %

CP stock opened at C$103.53 on Thursday. The stock has a market capitalization of C$96.77 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 2.32 and a beta of 0.79. Canadian Pacific Kansas City has a one year low of C$94.60 and a one year high of C$119.20. The company has a fifty day moving average of C$103.72 and a 200-day moving average of C$106.78. The company has a debt-to-equity ratio of 49.64, a quick ratio of 0.42 and a current ratio of 0.53.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.228 per share. This represents a $0.91 dividend on an annualized basis and a dividend yield of 0.88%. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.19. Canadian Pacific Kansas City’s dividend payout ratio is currently 20.06%.

Canadian Pacific Kansas City Company Profile

Canadian Pacific is a CAD 8 billion Class-1 railroads operating on more than 12,500 miles of track across most of Canada and into parts of the Midwestern and Northeastern United States. It is the second-smallest Class I railroad by revenue and route miles. In 2021, CP hauled shipments of grain (22% of freight revenue), intermodal containers (22%), energy products (like crude and frac sand), chemicals, and plastics (20%) coal (8%), fertilizer and potash (10%), automotive products (5%), and a diverse mix of other merchandise.